Serengeti Resources Inc. 2004 GEOCHEMICAL REPORT ON THE SHADOW PROPERTY a. Located in the Johanson Lake Area Omenica Mining Division NTS 94D/9 6 degrees and 32 minutes North Latitude 126 degrees and 2 minutes West *Lo 4' - prepared for- SERENGETI RESOURCES INC. Suite 40, 800 West Pender Street Vancouver, B.C., Canada V6C 2V6
TABLE OF CONTENTS Summary... 3 Introduction... 3 Location and Access... 3 Property Title... 3 Property Exploration History... 4 Regional Geology... 4 Property Geology... 4 Geochemistry... Conclusions... 2
SUMMARY The Shadow property covers 80 hectares in mountainous terrain in north-central British Columbia, approximately 20 kilometers northwest of Fort St. James. Access to the property is currently by helicopter, with the nearest road two kilometers to the north of the property. Serengeti is earning a 0 percent in the property. The property is located in the Quesnel Trough which hosts numerous alkalic porphyry copper-gold mines and deposits from southern to northern B.C., in dioritic and monzonitic plugs and stocks. The main ones in the area of the property are the Kemess mine and the Lorraine and Mt.Milligan deposits. In 2004, Serengeti Resources carried out a program of stream sediment sampling and rock sampling. This work confirmed a previous reported stream sediment copper and gold anomaly by the B.C. Regional Geochemical Survey with the anomalous values associated with a zone of pyritic and propylititized andesite and diorite that is at least 1,200m long by 0Om wide. The best rock sample was 997 copper and 1,336ppb gold in a rusty, pyritic, chloritized diorite with epidote veinlets. 1.0 INTRODUCTION The Shadow property was acquired to cover a copper-gold stream sediment anomaly reported from B.C. Regional Geochemical Survey. 2.0 LOCATION AND ACCESS The Shadow property is situated in the Omenica Mining Division just south of Johanson Lake, approximately 20 kilometers northwest of Fort St. James (Plate 1). It is located on NTS map sheet 94D/9, at latitude 6 degrees 32 minutes North and longitude 126 degrees and 2 minutes West and between UTM 68GmE and 68300mE and 62670GmN and 6271OOOmN(NAD 83, Zone 9). The Omenica Mining Road passes two kilometers north of the property with access to the property by helicopter from the Road or the Bergie Camp at the northern end of Johanson Lake. The property is in mountainous terrain with moderate to steep slopes rising from about 1,600m to 2,300m. It is alpine for the most part. 3.0 PROPERTY TITLE The Shadow property consists of two contiguous mineral claims (73hectares, Plate 2) which are owned by Serengeti Resources Inc. Additional records show that Serengeti Resources Inc. has entered into an agreement to earn a 0 percent interest in the Shadow claims from the Mine Match Partnership Ltd.: 3
SERENGETI RESOURCES INC. CLAIM MAP
-........ -. Shadow 1 08776 08776 28 March 11,200 4.0 PROPERTY EXPLORATION HISTORY 4.1 Previous Work No previous work has been filed in the assessment records. 4.1 2004 Exploration Program A progam of stream sediment and rock sampling was carried out on the Shadow property on October 1, 2004 to substantiate a stream sediment copper and gold anomaly reported by the B.C. Regional Geochemical survey. This progam was based fiom the Bergie Camp at the north end of Johanson Lake and helicopter supported. A total of eight stream sediment and six rock samples were collected to follow up the anomalous B.C. Regional Geochemical Survey sample..0 REGIONAL GEOLOGY The Shadow property lies in the 1,300km long by 3km wide Quesnel Trough which hosts numerous alkalic porphyry copper-gold deposits fiom southern to northern B.C. In the area of the property the Kemess Mine is located 7km to the northwest while the Lorraine and Mt.Milligan deposits are found 70km and 200km to the southeast respectively. To the west, deformed and uplifted Permian Cache Creek Group rocks are separated fiom Quesnel Trough by the Pinchi fault. To the east, the Manson fault zone separates this belt from the uplifted Proterozoic/early Paleozoic Wolverine metamorphic complex and the Mississippian-Permian Slide Mountain and Cache Creek Groups. In the Johanson Lake area the Takla Group sequence (Quesnel Trough)is dominated by alkalic to subalkalic dark green tuffs, andesitic to basaltic volcanic breccias and flows of similar composition. These volcanic rocks are intruded by syenite, monzonite, monzodiorite and diorite plug and stocks, which are associated with the porphyry coppergold mineralization, and are coeval with the volcanic rocks. 6.0 PROPERTY GEOLOGY The geology of the Shadow property consists of fine gained diorite plugs cutting Takla Group andesite. In the central part of the property a greater than 1,200m long by 0Om wide rusty zone was mapped that shows dioritic plugs and andesite that are variously chloritized and epidotized(some epidote vein1ets)with disseminated and fiacturescontolled pyrite and pyrrhotite. No copper sulfides were observed but must be present to account for the anomalous copper in stream sediment and rock samples. 4
7.0 GEOCHEMISTRY The analytical results for copper and gold in stream sediment and rock samples taken are shown in Plate 3 with all the results in Appendix 1.All samples were analyzed in TeckCominco s Global Discovery Labs in Vancouver. The stream sediment samples were taken from the active parts of the stream beds..rock description are in Appendix 2. All the stream sediment samples are anomalous for copper (142 to 333, background less than O from the Regional Geochemical Survey). All but one the samples are anomalous for gold (2Oppb to 2,2OOppb, background less than ppb). Of the six rock samples three are anomalous for copper (217 to 996, background less than 1O) while three are anomalous for gold (2Oppb to 1,336ppb, background less than ppb). The best rock sample was 996 copper and 1,336ppb gold from a chloritized diorite with epidote veinlets and disseminatedfracture-controlled pyrite and pyrrhotite. 8.0 CONCLUSIONS The Shadow property lies in part of the Quesnel Trough that hosts the alkalic porphyry copper-gold Kemess mine and two significant porphyry copper-gold deposits at Lorraine and Mt. Milligan. Serengeti s stream sediment sampling confirms the anomalous copper and gold values reported by the B.C. Regional Geochemical Survey with these anomalies being derived fiom large, rusty, altered zone. The rock types and associated alteration seen are consistent with the type of situation which elsewhere in the Quesnel Trough host important porphyry copper-gold deposits. As the Shadow property has received only very limited, early stage exploration further geological mapping and rock sampling is recommended. Respectfblly submitted, My& Osatenko, P.Geo. Serengeti Resources Inc. Vancouver, British Columbia August, 200
APPENDIX 1 ROCK AND STREAM SEDIMENT GEOCHEMICAL RESULTS FOR THE SHADOW PROPERTY Rock Geochemistry Lab No Field No. Au ppb Wt Au gram cu Zn Ag Ba Cd co Ni Fe % Mo Cr Bi R0431481 OR-2 <I0 217 19 <.4 18 <I 18 12 4.6 c2 29 c R0431482 OR-3 1336 997 9.3 21 <1 14 18 3 1.37 2 27 < R0431483 OR- 20 122 29 0.4 111 <I 8 3.97 41 < R0431484 OR-7 c 114 24 c.4 19 Cl 19 13 3.39 34 c R0431491 MR04-2 <I0 272 63 c4 8 1 17 8 4.49 1 24 c R0431492 MR04-27 60 1 13 <.4 20 <I 21 14 3.07 40 < Lab No Field No. Sb v Sn Sr Y Mn MQ % Ti AI Ca Na K % % % % % P R0431481 OR-2 < 132 2 431 1.31 0.20 2.04 0.76 0.11 0.06 1202 R0431482 OR-3 c 32 c2 43 3 144 0.29 0.11 0.89 0.78 0. 0.13 740 R0431483 OR- < 97 12 3 300 0.94 0 16 1.60 0.66 0.09 0.76 03 R0431484 OR-7 c 87 21 4 331 1.oo 0.14 1 76 0.9 0. 0.07 940 R0431491 MR04-2 < 94 26 6 377 1.1 0.19 1.93 0.64 0.11 0.30 929 R0431492 MR04-27 c 62 30 4 277 0.94 0.13 2.27 1.72 0.12 0.08 1207 Stream Sediment Geochemistry Lab No Field No. AU ppb wt Au gram cu Pb Zn Ag Ba Cd Co Ni Fe % Mo Cr SO4112 oss-1 < 333 21 14 <.4 12 <1 4 1 7.71 2 18 SO411211 OSS-4 80 263 11 48 0. 49 <I 2 32 3.40 6 66 SO411212 oss-6 160 333 1 132 c4 112 1 48 122 6.67 8 1 SO41 1213 oss-8 2 22 11 86 4 <I 39 82.94 3 117 SO41 1214 oss-9 90 268 12 84 c.4 4 <1 39 71.61 2 4 SO411222 ML04-26 4 0 19 17 7 c.4 16 cl 30 4.94 86 SO411223 ML04-28 20 142 6 c.4 97 <1 27 3 3.82 2 SO41 1224 ML04-29 2200 1 61 c.4 76 Cl 28 4 4.04 71
Stream Sediment Geochemistry Lab No Field No. Sb V Sn W Sr Y La Mn Mg % Ti Al Ca Na K % % % % % P SO4112 OSS-1 < 122 c2 9 4 1371 4.40 0.16. 1.24 0.06 0.26 73 SO411211 OSS-4 c 66 44 3 1 1 1.23 0.06 2.94 0.79 0.08 0.18 88 SO411212 OSS-6 < 2 74 944 3.17 0.13 4.77 0.92 0.0 0.20 84 SO411213 oss-8 < 97 80 4 4 940 2.70 0.14 3.94 1.01 0.0 0.23 66 SO411214 oss-9 E 93 87 4 92 2.0 0 13 3.86 1.08 0.0 0.22 39 SO411222 ML04-26 c 74 88 3 c2 922 2.4 0 11 4.04 1.08 0.08 0.36 1321 SO411223 ML04-28 < 61 c2 8 3 92 1.0 0.07 2.88 1.12 0.0 0.21 66 SO411224 ML04-29 < 71 68 3 66 1.64 0. 2.8 1.13 0.0 0.14 874 ANALYTICAL METHODS: Au Aqua regia decomposition I solvent extraction / AAS Wt Au The weight of sample taken to analyse for gold (geochem) ICP PACKAGE : 0. gram sample digested in hot reverse aqua regia (soi1,silt) or hot Aqua Regia(rocks). ROCK DESCRIPTIONS SarnDle number TvuelLenqth Description OR-2 Grab Rusty andesite. 3%py, chloritized OR-3 Grab Rusty diorite. epidote veinlets, chloritized, 4%py OR- Grab Rusty diorite, epidote veinlets, chloritized, 3%py Rusty diorite, num. ablbite-epidote venlets, chloritized, OR-7 Grab 3%py MR04-2 Grab Rusty diorite, I-2% diss py-po,qtz veinlets MR04-27 Selected chip(l0m) Rusty andesite, tr-2% py-po
APPENDIX 2 GEOLOGIST S CERTIFICATE I, Myron Osatenko, of 48 Wildwood Crescent, Delta, B.C., in the Province of British Columbia, DO HEREBY CERTIFY: 1. THAT I am Chief Geologist with Serengeti Resources Inc., a junior mining company. 2. THAT I am a graduate of the University of British Columbia with Bachelor and Master of Science degrees in Honours Geology. 3. THAT I am a Professional Geoscientist registered and good standing with the Association of Professional Engineers and Geoscientists of the Province of British Columbia(#22,12). 4. THAT this report is based on fieldwork carried out be me on October 1,2004 and on publicly- available reports on the Darby property. DATED at Delta, British Columbia, t hisl day of (E?I&rk, 200. 7
APPENDIX 3 STATEMENT OF EXPENDITURES FOR THE SHADOW PROPERTY October 1,2004 8